Latest news with #AED1.9
Zawya
30-04-2025
- Business
- Zawya
Aldar Properties profit before tax jumps 33% to $599mln
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to AED1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value, said a Wam news agency report. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Development sales remained strong, increasing by 42% to AED8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers, he said. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED7.4 billion, representing 87% of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED9 billion in syndicated revolving credit facilities and a AED1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25% year-on-year increase in earnings per share to AED0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 percent year-on-year increase in revenue to AED5.7 billion, with EBITDA rising by 50 percent to AED1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10% year-on-year to AED764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED46 billion. Internationally, SODIC contributed AED172 million in revenue to Aldar Development, with revenue backlog reaching AED6.3 billion by end-March 2025. London Square contributed AED135 million to Aldar Development revenue. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
29-04-2025
- Business
- Trade Arabia
Aldar Properties profit before tax jumps 33% to $599m
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to AED1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value, said a Wam news agency report. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Development sales remained strong, increasing by 42% to AED8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers, he said. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED7.4 billion, representing 87% of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED9 billion in syndicated revolving credit facilities and a AED1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25% year-on-year increase in earnings per share to AED0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 percent year-on-year increase in revenue to AED5.7 billion, with EBITDA rising by 50 percent to AED1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10% year-on-year to AED764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED46 billion. Internationally, SODIC contributed AED172 million in revenue to Aldar Development, with revenue backlog reaching AED6.3 billion by end-March 2025. London Square contributed AED135 million to Aldar Development revenue.
Zawya
23-04-2025
- Business
- Zawya
Sharjah records $3.59bln in real estate transactions in Q1 2025, up 31.9%
The value of real estate transactions in the Emirate of Sharjah reached AED13.2 billion during the first quarter of 2025, marking a 31.9 percent increase compared to AED10 billion during the same period in 2024. The number of executed transactions rose by 4.8 percent to 24,597, up from 23,478. The growth reflects increasing investor confidence in Sharjah's stable and investor-friendly environment, supported by advanced infrastructure and a diverse range of investment opportunities. Abdulaziz Ahmed Al-Shamsi, Director-General of the Sharjah Real Estate Registration Department, stated: 'The qualitative leaps witnessed by Sharjah's real estate are a fundamental pillar in the comprehensive and balanced economic growth process, which Sharjah is steadily leading, thanks to the wise directives of His Highness Sheikh Dr. Sultan bin Muhammad Al-Qasimi, Supreme Council Member and Ruler of Sharjah, and the diligent follow-up of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Executive Council, which have placed Sharjah on the regional and international real estate investment map.' He added that the emirate continues to strengthen its role as a regional economic hub through a diversified economy and robust legislative framework that safeguards rights and boosts investor confidence. A total of 8,123 sales transactions were recorded during the quarter, a 32.2 percent increase from 6,146 in Q1 2024. The transactions were spread across 169 areas, covering 46 million square feet and amounting to AED10.7 billion. The highest number of sales was recorded in Muwailih Commercial with 1,787 transactions worth AED1.9 billion, followed by Al-Belaida (902 transactions, AED851 million), and Al-Khan (536 transactions, AED665 million). Residential properties dominated the sales segment, accounting for 78.9 percent of transactions (2,894 deals). Industrial properties followed with 477 transactions (13 percent), commercial properties with 259 (7.1 percent), and agricultural properties with 39 (1 percent). The department recorded 1,417 mortgage transactions worth AED2.4 billion, executed through 21 financial institutions. The highest number was in Um Fanain (113 mortgages, AED170.6 million), followed by Muwailih Commercial (66 mortgages, AED246.5 million), Al-Hamriyah West (65 mortgages, AED158.6 million), and Al-Sajaa Industrial (60 mortgages, AED148.2 million). Four new residential projects were registered in Muwailih Commercial, Al-Tay, and Al-Tay West. Investors from 97 nationalities participated in Sharjah's real estate market during Q1 2025. Emiratis led with AED5.2 billion (39.8 percent of total investments). GCC nationals invested AED509.8 million (3.9 percent), while Arab nationals invested AED3 billion (22.3 percent). Foreign investors contributed AED4.5 billion (34 percent). The number of foreign investors rose 25.3 percent year-on-year to 3,725, with 3,951 properties traded by non-UAE nationals, up 25.2 percent. The growth is attributed to legislative reforms allowing foreign ownership in designated areas of Sharjah. Emirati investors topped the list with 7,198 properties, followed by Indian (796), Syrian (502), Egyptian (391), Iraqi (318), and Jordanian (303) investors.
Trade Arabia
05-03-2025
- Business
- Trade Arabia
Bloom unveils Spanish-style town houses in Abu Dhabi
Bloom Holding, a leading UAE real estate developer, has announced the launch of Carmona, the eighth phase of its Bloom Living, its fully integrated and all-inclusive community in Abu Dhabi. Named after the Spanish town, Carmona offers premium townhouses ranging from two to three bedrooms. Inspired by the Mediterranean Spanish architecture and elevated by the comfort of modern living, the premium townhouses at Carmona will be designed to welcome indoor-outdoor living with elegant finishings, high ceilings and large windows, said a statement from Bloom Holding. The communal areas within Carmona offer spacious courtyards as well as access to top-class amenities, providing residents with an exceptional community living experience, it stated. The eighth phase of Bloom Living is scheduled to be completed in Q2 2028 with prices starting from AED1.9 million ($517,279) and attractive post-handover payment plans available. On the new launch, CEO Carlos Wakim said: "Bloom Living is a testament to Bloom Holding's dedication to reimagining community living and delivering outstanding results." "The exceptional sales results we are witnessing with each launch at this fully integrated and all-inclusive community signifies our ability to offer best-in-class customer experiences and our proven track record in delivering thoughtfully designed projects," he stated. According to Wakim, this launch builds on Bloom's legacy of introducing quality residential projects that meet the evolving needs of its customers. "We are confident that this phase will see the same strong demand from investors and end users as our previously launched phases, which is a direct result of the distinctive appeal of Bloom Living," he stated. "Those living within Carmona can benefit from a wide range of facilities available at Bloom Living, just within a short walking distance." he added. The key features include multiple interconnected parks, pools, sports and recreational facilities as well as a medical clinic, a wellness centre and a supermarket. Additionally, at the heart of Bloom Living lies a Town Center, a vibrant community destination that offers an array of exquisite restaurants and cafés available for both residents and visitors, stated Wakim.
Zawya
05-03-2025
- Business
- Zawya
Bloom unveils Spanish-style town houses in Abu Dhabi
UAE - Bloom Holding, a leading UAE real estate developer, has announced the launch of Carmona, the eighth phase of its Bloom Living, its fully integrated and all-inclusive community in Abu Dhabi. Named after the Spanish town, Carmona offers premium townhouses ranging from two to three bedrooms. Inspired by the Mediterranean Spanish architecture and elevated by the comfort of modern living, the premium townhouses at Carmona will be designed to welcome indoor-outdoor living with elegant finishings, high ceilings and large windows, said a statement from Bloom Holding. The communal areas within Carmona offer spacious courtyards as well as access to top-class amenities, providing residents with an exceptional community living experience, it stated. The eighth phase of Bloom Living is scheduled to be completed in Q2 2028 with prices starting from AED1.9 million ($517,279) and attractive post-handover payment plans available. On the new launch, CEO Carlos Wakim said: "Bloom Living is a testament to Bloom Holding's dedication to reimagining community living and delivering outstanding results." "The exceptional sales results we are witnessing with each launch at this fully integrated and all-inclusive community signifies our ability to offer best-in-class customer experiences and our proven track record in delivering thoughtfully designed projects," he stated. According to Wakim, this launch builds on Bloom's legacy of introducing quality residential projects that meet the evolving needs of its customers. "We are confident that this phase will see the same strong demand from investors and end users as our previously launched phases, which is a direct result of the distinctive appeal of Bloom Living," he stated. "Those living within Carmona can benefit from a wide range of facilities available at Bloom Living, just within a short walking distance." he added. The key features include multiple interconnected parks, pools, sports and recreational facilities as well as a medical clinic, a wellness centre and a supermarket. Additionally, at the heart of Bloom Living lies a Town Center, a vibrant community destination that offers an array of exquisite restaurants and cafés available for both residents and visitors, stated Wakim. "Our commitment to delivering excellence within the market is further exemplified by the early handover of Cordoba, the first phase of Bloom Living, which underscores Bloom Holding's dedication to providing exceptional value and exceeding customer expectations," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
